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Professional Business Valuation Consultants Service. We have the vast experience in business valuations our advisors Provide the small Valuation methods for your Startup. our Formula calculates your business value.
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More Idea For Your Business
[ Business for sale in Pune India| Know your company worth]
LET YOUR BUSINESS GROW ON NEW TRAJECTORY. HERE
ARE SOME WAYS THAT WILL FLOURISH YOUR BUSINESS.
Getting new customers is not bad. But beer will be to sell more to the existing customers;
retain the existing customers. Acquisition of new customers will involve higher promotion
out-go. Whereas, selling to existing customers will be cost-effective. Pricing is another aspect which will help your business for salein penetrating the existing market. Remember that always charging competitive price may not help. Sometimes you need to reduce the weight/quantity of the product (indirect pricing) or offer free gifts. You may even change the packaging.
2. You may seek referrals.
During or after every job or sale, ask your satisfied customers if he knows anyone else who
would beinterested inyourproducts or services.However, this is possibleonlyifyour deliverablecan delight the customers.
3. Innovate or modify your product
Every product or service has some life. It is always suggestible to go for product innovation
or modification. This will help in adding new customers also. However, research & development wing should be strong enough to perform this. Just think of transformation of offline business into online business.
4. Extend your market reach.
You may start locally but increase the market reach. Many businesses have gone this way and
grew tremendously. There are many ways to get it- open stores in new locations, go virtual, acquire other companies, make e-ups, use social media, use website etc.
5. Participate in trade shows and arrange seminars
Trade shows can be a great way to grow too. Because trade shows draw people who are
already interested in the type of product or service you offer. They can powerfully improve your boom line.
6. Win the niche market
Big market customers try to follow the customers of niche market. Once your product or
service has got hold in niche market, it will be easy to extend the present big market. Think of branded apparels, use of home appliances, mobile handsets and many more.
Don’t forget that reducing cost directly helps in increasing boom line and thus valuation of
business.It is not necessary to cut costs in all the areas. Few areas where it can be done are- reduce wastage, electricity cost admin costs and other indirect costs.
8. Diversify your products or services.
Diversification in products and services is interesting way to empower growth. Package the
products. Simply think of a burger or pizza is available with sauce and chilli flakes and cold
drinks. Or, a restaurant serves meal with pickle and ‘papad’ and ‘chutney’.
Franchising is good way to grow your business. It may not be possible to directly reach the
customers to create brand of your product or services and go for franchising model.
To conclude, there is no open to let your business for sale. The above ways are not exhaustive but there are ways possible to achieve that depending upon the nature of product/services and business model.